How to Delete Coinbase Account
There are many reasons for deleting your Coinbase account. Coinbase isn’t the only platform where customers can buy Bitcoin or other cryptocurrencies.
Lots of crypto exchanges provide customers with a better investing and buying experience, which is why it’s not odd to see people deleting their Coinbase account once and for all.
If you want to close your Coinbase Pro account or Standard account, you are on your right to do so. There are plenty of crypto fishes in the ocean!
Take note of the info we are about to give you on this article so you can learn important things about the following topics:
- How to delete Coinbase account efficiently;
- Step-by-step guide to managing your money once you click on close account;
- Coinbase legal obligations for when you delete the account.
3 Things You Must Know Before Deleting Your Coinbase Account
The Bitcoin Network has taken the online world by storm. At first, it was hard to manage and hold Bitcoin since there weren’t many platforms that offered this service.
That’s different now. Finding a crypto exchange is now easier than ever before, so there are other digital bank vault alternatives for users out there.
1. Think About Better Alternatives to Manage Your Funds
Fortunately, there are lots of options for a Bitcoin address set nowadays. Binance, SwanBitcoin, and Bull Bitcoin are just some of the platforms where you can trade, transfer, withdraw and manage a crypto Bitcoin balance.
Remember that your Bitcoin address serves as an unhackable bank vault, so, in theory, your profile information is even safer than in a bank account.
Also, pay attention to the minimum low fees of other exchanges - you might get surprised!
2. You Must Have Zero Balance Before You Delete Your Coinbase Account
You need to Withdraw Money from Coinbase or transfer it to an external wallet before you close your account.
It’s crucial to have zero balance before you hit on Close Account. Otherwise, it would be impossible to finally delete your Coinbase account.
3. You Can Always Donate the Remaining Balance
If you don’t want to withdraw or trade with any remaining Bitcoin balance, you can donate your funds to nonprofit organizations such as GiveCrypto.org.
They are constantly educating customers to protect their Bitcoin funds and use them wisely, so check their page in order to know more about this process.
Coinbase Pro Account vs. Standard Coinbase Accounts
Coinbase offers two types of services: Coinbase Pro and Coinbase Standard.
We must comprehend the main differences between these two types of accounts before proceeding:
- Coinbase Pro offers different products to more advanced traders, while classic Coinbase is designed for retail customers;
- Deleting your Coinbase account will also delete your Coinbase Pro account;
- In both accounts, you need to withdraw all the money from the exchange before finally deleting it.
How to Delete Your Coinbase Account
It’s the moment of truth: let’s close your Coinbase account once and for all. Keep in mind that this process can’t be undone, so you better carefully think about this before proceeding with the next step.
Step 1: Go to the Coinbase Website and Log In
First of all, remember that you need to withdraw all the Bitcoin or cryptocurrency funds before proceeding with this.
If you don’t do this, you won’t be able to close the account - the minimum amount for withdrawal is just $1, so don’t worry. That’s why that’s the very first thing you must do.
Step 2: Find the Account Activity Tab
Go to “Account Settings” by clicking here and selecting the option in the pop-up box of this page:
Once you are indeed on User Settings, select the Activity Tab:
Step 3: Click the “Close Account” Option
You need to go to the bottom of the page and look for the “Close Account.” option:
Step 4: Enter Your Password and Comply with the Checklist
A checklist will appear on the page. Coinbase will ask you to have absolute zero balance on all of your wallets:
Assuming you have already withdrawn your money, then you can now proceed.
Step 5: Finally Delete Your Coinbase Account
There’s nothing else to do here than to click on “Close Account:”
Enter your password on this page, and you will be ready to go. Keep in mind that Coinbase will retain your personal information for up to five years in case they need it for legal obligations.
They will also retain your email address, phone number, and more. Your account is now deleted! You can now move on with a new chapter of your cryptocurrency journey.
Coinbase Account Closure FAQ
What Happens if I Disable My Coinbase Account?
You won’t be able to use your account anymore. Besides, this process can’t be undone, so in case you want to go back to Coinbase, you will need to create a new profile.
Why Did Coinbase Disable My Account?
This might happen due to two main reasons: Coinbase detected a security breach on your account, or you failed to comply with Coinbase policies. You should receive a clear answer directly in your inbox.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.